Farms.com Home   News

Altona Oat Miller Says 2020 Good Year To Grow Oats

2019 saw some big changes for Altona-based Buffalo Creek Mills.
 
The oat milling facility doubled its production capacity and installed new high-speed unload equipment. The company also introduced oat hull pellets, which can used for feed or heating.
 
CEO Ryan Penner gave his outlook for the year ahead.
 
"We would see the price of oats remaining strong," he said. "The demand for milling oats is generally good. I think that it would be a good year for farmers to consider putting oats into the soil. We hope to see a couple of new oat farmers in 2020."
 
Penner notes the 2019 oat crop turned out to be better than expected.
 
Buffalo Creek Mills sells oat groats that are used for pet food, feed, and human consumption. The company's primary market is North America, however Penner is hoping to see the Asian market open up a little bit more.
 
"Oats in general have proven to have a great nutrient profile and that's being implemented in the food industry and that's showing increase demand both in North America as well as we hope to see in other parts of other markets within the world open up to these benefits as well," he added. "We see a very strong demand for oats into the future."
Click here to see more...

Trending Video

U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again

Video: U.S.-China Trade “Truce” + U.S. Fed Cuts Rates Again


The market was hoping for a US-China trade deal, but we got a trade “truce” for now from the keenly awaited Trump-Xi meeting at the APEC Summit.
China commits to minimum purchase commitments of 12 MMT of U.S. soybeans during the “current season” and a minimum of 25 MMT annually through 2028.
U.S. Treasury Sec Bessent said other Asian countries have agreed to buy additional 19 MMT of US soybean.
Soybean futures trading above $11 now- they normally tend to rally to $12.
As expected, US Fed cuts interest rates by -0.25% again in October to 3.75%–4.00%. No further cuts promised for this year but trade looking out to the Dec FOMC.
The Bank of Canada cut interest rates to 2.25% but raised concern over trade war damage.
Soy meal futures, remarkably, have had 14 consecutive higher close sessions. A bull market in soybeans is a bull market in soy meal!
Cattle futures lower as funds unwind out of cattle for now due to Trump headlines and objective to lower beef prices.
All major stock indices climb to new record highs. It was Mag 7 reporting week, which had mixed results. But we now have the first $5 trillion company in Nvidia!